Financial Stability
Ugandan stress tests reveal banking sector vulnerabilities
Banking sector could face a loss of $140 million if three largest banks default; governor says it has been a “difficult year” for banks
Banks improve governance on Fed stress test feedback
Dual reviews of stress testing models and scenarios becoming the norm
Russian governor accuses failed bank owners of dishonesty
Owners of systemically important bank manipulated bond market, Elvira Nabiullina says, while owner of smaller institution used deposits for his own benefit
Bank Indonesia targets fintech firms with new anti-money laundering rules
The new regulation is applicable to non-bank financial services, money changers and fintech firms
Lower monthly quotas effective at preventing mortgage defaults
60% of US defaults during financial crisis caused by lack of ability to pay, paper finds
Namibia weighs in on DLT debate
Central bank deems unregulated virtual currencies “unsafe” but sees merit in underlying technology
IMF report studies country responses to volatile capital flows
Set of case studies emphasises value of macro-prudential policy in resisting credit booms across emerging and advanced economies
Swaziland central bank needs macro-prudential powers – IMF
Fund urges authorities to fast-track reform to give central bank financial stability mandate; reliance on customs union leaves economy vulnerable
BIS’s Restoy warns against ‘supervisory straitjacket’
Rules-based frameworks for banking sector intervention may “unduly constrain” regulators, the head of the Financial Stability Institute says
Bank of Spain was one of toughest pre-crisis regulators, report argues
But counter-cyclical provisions were not high enough to cope with crises, Bank of Spain says
Housing reform ‘will stabilise’ market – Danish central bank
The new taxation system aims to reduce price volatility by 20% and stem rising house prices in cities
Australian first-home buyers have better finances, study finds
RBA research paper finds fewer people are transitioning from renting to owning houses, but those who do tend to be more financially stable
Irish governor calls for fiscal prudence
The government’s debt target may need to be revised, argues Lane
Argentina attempts to speed up financial transactions
The central bank will allow the public to directly submit their tax returns to banks, as part of a series of measures designed to boost credit
Swift helps US real-time payments movement gain traction
The Clearing House will use Swift’s messaging software as “gateway” to new system, set to go live in 2018 after pilot phase
Bad assets ‘keep me awake at nights’ – RBI deputy governor
Reform proceeding at a “glacial pace”, says Viral Acharya
Brazil’s central bank creates DLT-based failsafe for RTGS
New system, designed as last line of defence, lacks appropriate privacy, central bank concludes; established solutions also ruled out as alternatives
Riksbank: housing market is a ‘serious threat’ to stability
Swedish central bank welcomes amortisation proposals, but says further measures may be needed
Bank swap rate reforms going well, Australian deputy governor says
Guy Debelle says BBSW rate will be strengthened by changes
Financial regulation, the PBoC and Zhou’s legacy
Zhou Xiaochuan failed to secure a new ‘super-regulator’ under the PBoC, but has ensured the central bank has a strong voice on China’s new apex stability committee at a time of increased regulatory scrutiny
Q&A: Asia’s caught in the Basel crossfire – Andrew Sheng
Veteran regulator says international standards may be the wrong medicine for emerging markets